The joint project between France-based remittance operator, Tempo Money Transfer and Bucharest-headquartered, Smith&Smith, reached planned operational targets, the two companies said in joint statement.
Clients are now able to send funds from over 70 of Tempo’s locations in France and Germany and receive the money in more than 600 Smith&Smith’s locations in Romania and 90 locations in Moldova. Options are available for inbound transactions, cash-to-account and home delivery. Once online transactions are completed, clients will receive sms-notifications.
The project started in March of this year.
Smith&Smith and Tempo Money Transfer offer home delivery payment service “ACASA” for individuals. The service provides the payment of the amount ordered by the sender at the beneficiary address, in Romania, indicated by the sender. It covers 3100 cities, 95% of the Romanian population, in addition to Tempo's augmented presence.
“ACASA” services also offer increased comforts for beneficiaries, who will not have to travel to collect payments, amongst these beneficiaries will be the elderly.
“Romania and Moldova are very promising money transfer corridors. The joint venture has given eager incitement to the international development of the two companies,” said Mrs. Stela Dimofte-Stamboala, Smith&Smith administrator, “The target audience are Romanians and Moldovans, many of whom work temporarily in France, sending money to their families, as well as individuals who do business in Romania.”
Mr. Jeffrey Phaneuf, the president for Tempo Money Transfer, said that since the project’s launch, the building of the operational component of the business has successfully been completed on time.
“The partnership has created a platform to send money most secured, speedy and conveniently to their loved ones, through a legal channel which will eventually support the Romania and Moldova economies and the societies at large,” he said.
“Within a short period of time, we've managed to have the services recognised on a national scale, in preparation for large-scale operational capacities being put in place, we have intentions to further increase client portfolio and transaction volumes.”
“One of our work’s accents is on low transaction costs for wires. This makes for an effective decrease in the black market and brings transactions into the open, regulated sphere. This benefits the host country's economy and our customers,” the Tempo president said.
The two companies also revealed that the project may expand to Italy, Spain and UK, soon.